1/5/09 Short GBP/USD Trade

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I apologize if the quality of these forex videos is not the best, but YouTube seems to compress the videos no matter what we do; so we’re still trying to find the settings that make them look the nicest possible. Please bear with us!

12/15/08 Long GBP/USD Trade

This trade happened during the US session. Originally I was attracted to this potential FX Fusion setup because it was going in the direction of the weakness of the dollar. As soon as I found the combination of the 3 key levels, I entered the trade on the Pound-Dollar; however, I didn’t know it would turn out to be a back-to-back trade.

If the trading video looks too small, click on the image and you’ll see it a bit larger on YouTube.

12/15/08 Short USD/CHF Trade

This trade happened during the US session. I really liked this trade when I entered it because the Dollar-Swiss retraced to a perfect combination of key levels. The dollar was showing lots of weakness and MACD was agreeing with the direction of my trade. I took my profits at the next combination of Key Levels for a profit of 23 pips.

If the trading video looks too small, click on the image and you’ll see it a bit larger on YouTube.

If you have already participated in any of our FX Trader Pro webinars or gone through our live trading or one-on-one coaching sessions, we would like you to take the opportunity and post your comments and feedback every time I post a trading video (including this one). These discussions will serve as a great learning tool for all of the traders who visit the Day Trading Tutor blog or website.

In the United States, the NFA (National Futures Association) does not protect against insolvency of forex brokers. Nevertheless, I believe that FX (foreign exchange) remains one of the best asset classes for active traders.

That’s one of the main reasons why we switched brokers. Now we have access to a broker that offers account protection of 90% of the account value for a maximum of 20,000 euros per depositor. This FX broker is in the very stable country of Germany and it’s also a bank; not a traditional bank that got spanked in the subprime mortgage debacle (like many US banks) - but one who focuses on trading and alternative investments.

The platform used remains the same: MT4 (MetaTrader); which has become sort of a standard in the retail forex trading arena. The executions also provided by this broker are automatic, so there’s no intervention from a human dealing desk.

To read more information about this broker, please go to the section on our website with instructions on how to open a trading account.

For two years, we’ve embarked on a wild journey through the forex day trading market. In that time, we’ve learned the hard way about all the games many FX brokerage firms play, the advantages and shortcomings of the technology behind the scene, and how a historical credit crisis impacts every global market in existence. We’ve also met an endless number of day traders and money managers in the process.

I almost forgot that the Day Trading Tutor website also underwent a major revamp in the middle of it all (read Day Trading Tutor gets a New Look) - and we launched a series of live forex webinars to help day traders become more successful (after years of requests from our visitors).

Happy Anniversary Day Trading Blog!

In our Free Training Webinar, I talk about how I’ve been able to combine these qualities and I explain how you can do the same.

The following trades on the euro-dollar occurred one right after the other and although I had to be glued to my computer for a few hours, I was able to walk away a happy camper!

All my trades are based on my FX Fusion Trading Strategy. We have a Training Webinar where I teach you exactly how to apply it.

If you would like to hear a professional day trader talk about the Forex market live, register to attend our Free Forex Webinar, where you’ll find out how you can learn my day trading strategy and how to get free access to our Forex Trading Room.

I trade strictly using my FX Fusion day trading strategy. In today’s market, you have to know how to adjust to the volatility. Since I’m an active trader I trade multiple times per day. For this reason, I’m very cautious and disciplined about when to take profits.

The following two trades happened back to back. My criteria to buy were met, so I went long at 1.2487 and took profits at 1.2507 - for a 20-pip profit. A few minutes later, my criteria to Sell were met, so I went short at 1.2539 and took profits at 1.2515; for +24 pips.

If you’re serious about learning how to become a better day trader, feel free to join us at our next Free Forex Webinar. During the webinar, you’ll find out how to get access to our live Day Trading Room.

As you may already know, my day trading strategy is based on looking for combinations of “Key Levels.” I executed the following trade once I saw my setup was triggered and confirmed.

10/29/08 USD/CHF = 152 PIPS

One of the great things about the FX Fusion strategy is that I get in knowing where to put my stop loss and where to take my profits ahead of time. In this trade, I took profits at two levels in order to maximize my gains.

If you would like to learn more about Day Trading in the Forex market, register to attend our Free Forex Webinar, where you’ll find out how to get free access to our Forex Trading Room.

Today I had two trades on the Dollar/Swiss currency pair. Both of these trades were based on using the scalping version of my day trading strategy for a total of 45 pips.

The concept of my strategy is based on finding entries at combinations of “Key Levels” of support and resistance. On both of the following setups my criteria was met, which caused me to take the trades.

SELL USD/CHF = 30 PIPS

BUY USD/CHF = 15 PIPS

If you would like to learn more about Day Trading in the Forex market, register to attend our Free Forex Webinar, where you’ll find how to get free access to our Forex Day Trading Room.

Here are a couple of examples of today’s trades:

BUY USD/CHF = 25 Pips

BUY USD/JPY = 22 Pips

If you would like to learn more about Day Trading in the Forex market, register to attend our Free Forex Webinar where you’ll find out how to get free access to our Forex Trading Room.

You have to remember, day trading currencies is very risky and you can sustain big losses if you are not disciplined and consistent with your rules and strategies. I know that with all these big swings in the market, it is very tempting to trade outside of what you normally do; but let me refresh your memory: a successful day trader is the one who can consistently profit while knowing how to manage risk and knowing when to stand aside.

For those of you who are trying to trade Forex for a living remember this: you don’t have to day trade all the time! In fact, sometimes not trading is the best trade of all.

What every trader needs is a clear set of rules which to trade by. IF you are new at Forex or are already trading in any other market, I strongly suggest you join me in our Free Forex Webinar where I will introduce you to some of the rules and strategies that have helped me become a Successful Forex Trader.